Global Atomic Drilling Continues to Hit Offscale, High Grade Intercepts in the Flank Zone of the DASA Project
TORONTO, April 05, 2018 (GLOBE NEWSWIRE) -- Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX-V:GLO) is pleased to report continued excellent drill results, including “offscale” intercepts in the Flank Zone area of the DASA deposit (“DASA”). The values indicated below include sections that are at the maximum level of the gamma probe. Chemical assaying will be required to ascertain the true uranium grade, which will be higher than these reported in the table below. In drill hole ASDH 543 the probe was saturated for 21 meters from 221.5 meters to 242.5 meters and for 13 meters in hole ASDH 552 from 278 meters to 292 meters. Drill core is presently being prepped for assay at ALS Global in Vancouver. A Geiger-Mueller (“G-M”) high grade probe is presently being brought to site in order to better estimate the high grade values prior to assaying.
Four additional holes drilled are as follows:
|Hole||From (meters) – To (meters)||Length (meters)||Grade (ppm eU3O8)|
|343.0 – 359.0
351.5 – 358.5
|221.0 – 296.0
221.5 – 226.0
233.0 – 242.5
|118.0 – 141.5
122.5 – 127.0
|243.5 – 292.0
245.0 – 265.5
275.5 – 281.5
Terratic AG probed the holes using the Electomind DIL 1125 gamma probe
The holes were drilled at an angle from the hanging wall side of the Graben to intersect the Flank Zone (see attached drawing).
3D Model: DASA Open Pit and Underground Resources Model With Planned Drilling
Drill Hole Longitudinal Section (Press Release – February 22, 2018)
Drill Hole Longitudinal Section 1950
Engagement of CSA Global Pty. Ltd.
Global Atomic has engaged CSA Global Pty. Ltd. (“CSA”) to update the Mineral Resource estimates for the project and assess the potential of open pit mining the Flank Zone. It is Global Atomic’s intention to complete adequate drilling over the next three months in order to develop an open pitable resource in the Indicated Resources category. Once sufficient drilling has been completed, an NI 43-101 compliant technical report will be completed in order to finalize a plan to begin shipments of mineralized material to Orano Mining’s milling facility in Arlit (formerly known as AREVA Mines).
Global Atomic has granted 5,535,908 stock options to acquire common shares of Global Atomic to Directors, management, consultants and employees. The stock options are exercisable at $0.25 for a period of five years from issuance.
George A. Flach, Vice President of Exploration, P.Geo. is the Qualified Person (QP) as defined in National Instrument 43-101 and has prepared, supervised the preparation and approved the scientific technical disclosure in this news release.
About Global Atomic
Global Atomic is a TSX Venture listed company providing a unique combination of high grade uranium development and cash flowing zinc concentrate production. Global Atomic’s Uranium Division includes six exploration permits in the Republic of Niger covering an area of approximately 750 km2. Uranium mineralization has been identified on each of the permits, with the most significant discovery being the DASA deposit situated on the Adrar Emoles III concession, discovered in 2010 by Global Atomic geologists through grassroots field exploration.
Global Atomic’s Base Metals Division holds a 49% interest in the BST joint venture, operating a facility located in Iskenderun, Turkey that converts EAFD (Electric Arc Furnace Dust) into a high grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (“Befesa”), holds a 51% interest in and is the operator of BST. Befesa is a market leader in EAFD recycling, capturing approximately 45% to 50% of European EAFD market with facilities located throughout Europe and Korea.
Our website has been updated! Please visit www.GlobalAtomicCorp.com for further information.
|Stephen G. Roman
Chairman, President & CEO
Tel: (416) 368-3949
|George A. Flach, P.Geo.
Vice President, Exploration
Tel: (416) 368-3949
The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.